Bitcoin Enters Expansion Phase With 185,000 Target

Bitcoin has entered a significant phase in its macro cycle, known as Wave V, following a period of relative strength after the previous bear market. This phase is marked by upward trending weekly exponential moving averages (EMAs) and a bullish Relative Strength Index (RSI) that remains above the critical 50 level. The 50-week EMA, which has historically served as dynamic support, continues to hold, indicating that Bitcoin's long-term bullish trajectory is intact.

Despite the overall bullish trend, there is a bearish divergence forming on the daily timeframe, which could introduce short-term volatility. However, this does not detract from the larger cycle's progression. According to crypto analyst Darkfost, Wave V has already exceeded the length of Wave I, suggesting that Bitcoin is entering an expansion phase characterized by rapid price appreciation and increased market activity.

Technical projections indicate that if Wave V mirrors the magnitude of the previous Wave III expansion, Bitcoin could potentially target levels around $185,000. This figure is based on historical price movements within the cycle framework and serves as a reference point rather than a guaranteed target. Several intermediate resistance levels may slow momentum as the price approaches these areas, acting as natural pauses or pullback zones for traders to reassess short-term conditions.

On-chain metrics further support the bullish outlook, with long-term holders showing confidence and limited selling pressure during Bitcoin’s upward structure. The combination of stable EMAs, a rising RSI, and strong trendline support reinforces the view that Bitcoin is still in a primary bullish phase. While daily timeframe divergences warrant attention from a risk perspective, the overall market structure remains robust.

As Bitcoin re-enters price discovery territory, investors are reassessing their long-term market plans and closely monitoring both market structure and sentiment trends. This phase has rekindled interest in potential market gains and underscores the importance of staying informed about the evolving dynamics of the cryptocurrency market.